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Beacon Power doubles revenue in second quarter

Beacon Power Corporation, located in Tyngsboro, Massachusetts, increased its revenue by 216 percent in the second quarter of 2011 compared to the same time frame last year, thanks, in part, to its Stephentown, New York plant reaching full capacity in June 2011.

The revenue increased from $166,000 in the second quarter of 2010 to $525,000 in the second quarter of 2011. For the first six months of 2011, revenue increased by 142 percent, or $569,000, compared to the first six months of 2010.

Beacon Power’s growth in revenue is associated with its Stephentown plant. The company first began generating revenue from the plant in January 2011 as eight megawatts of flywheel energy storage was available. By June 21, 2011, the plant had reached its full capacity of 20 MW.

According to the Silicon Republic, the plant is currently the largest advanced energy storage facility in North America, generating energy from 200 spinning flywheels. The plant will store and return to the grid approximately 10 percent of the state’s overall electricity frequency needs.

Flywheel energy storage works through cylindrical rotors, called flywheels, that accelerate at high rates of speed and maintain that energy in the system. The flywheels are sped up to store energy and slowed to convert energy back.